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Bush's advisor: Housing slump to only last six more months

Discussion in 'Sports and News' started by poindexter, Jan 4, 2008.

  1. Pete Incaviglia

    Pete Incaviglia Active Member

    From that article, my case in point:
    The longer loans are directly related to the higher balances. By extending the length of loans, lenders keep monthly payments down. But because these loans take longer to pay off, a much larger piece of the principal remains unpaid at the time the car is traded in.

    The response of the automotive finance industry? Extend loans further and allow the indebted customer to roll what he owes into a new loan with little, if any, effect on his new monthly payment. In effect, the driver is paying a loan on two -- or more -- cars at once.
     
    Last edited by a moderator: Dec 15, 2014
  2. Pastor

    Pastor Active Member

    From the article:
    Shocking! I am surprised as any that the dealership would allow you to pile up debt that you. Up next, credit card companies allow you to use them!

    I understand how people could end up making a mistake (to an extent) on a house. The numbers are large. The deals can get complicated. However, with a car, it really isn't that complicated.

    Why did these two need a new car?
     
  3. poindexter

    poindexter Well-Known Member

    A nation of complete idiots. No other answer.
     
  4. Ace

    Ace Well-Known Member

    Hey, the more goodies you have in life and the more debt you have in death, the bigger winner you are.
     
  5. Starman

    Starman Well-Known Member

    Just wait for the Depression of 2010.
     
  6. Flying Headbutt

    Flying Headbutt Moderator Staff Member

    If they say six more months, then clearly anyone who owns a house is going to watch it eventually evaporate, in the most literal sense of the word.

    I'd trust Bud Selig more than I'd trust most of these administration goons.
     
  7. cougargirl

    cougargirl Active Member

    Don't even get me started on some of the crazy interest rates that auto dealerships want to charge you, on top of ridiculous payments. Mr. Cougar and I found that out during the most recent round of car-shopping.
     
  8. dixiehack

    dixiehack Well-Known Member

    Happy belated holidays

    http://www.internetautoguide.com/car-incentives/index.html

    And always have a loan approval in hand from your credit union/bank before going car shopping. Then tell the dealer what price they have to beat to get to do the loan.
     
  9. Football_Bat

    Football_Bat Well-Known Member

    Prosperity is just around the corner!

    [​IMG]
     
    Last edited by a moderator: Dec 15, 2014
  10. three_bags_full

    three_bags_full Well-Known Member

    Housing slump ends in six months?


    Buuuuuuuuullllllllllshhiiiiiiiiiiiiiiiiiit /crowd chanting after ball call
     
  11. Flying Headbutt

    Flying Headbutt Moderator Staff Member

    Did he also say that the market was in the last throes?
     
  12. wickedwritah

    wickedwritah Guest

    Conveniently, a recession started right when these clowns took office, and one will end, conveniently, right when they leave office.
     
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